Ant Financial tag teams Hoperun for new core banking product
Ant Financial and Jiangsu-based Hoperun Information Technology have unveiled their Distributed Core Banking Platform (DCBP), a product designed to help financial institutions (FIs) shift their business models from transaction-oriented to customer-oriented.
The platform also aims to help FIs tackle digital challenges, including distributed development, financial product management and accounting liquidation.
DCBP is the first co-developed integrated solution in Ant Financial’s technology product portfolio.
“This is just the first of many collaborations that we plan to form with other talented partners that will enable us to provide better technology solutions to the challenges faced by financial institutions,” says Liu Weiguang, vice-president of Ant Financial.
DCBP has completed the pilot stage after running in the core computing systems of several banking partners.
One of them is MYbank, which was able to build its distributed cloud-native capabilities, including “immediate disaster recovery” in six months.
This new solution builds on the Business-Platform-as-a-Service (bPaaS) product which Ant Financial launched in September 2018.
Ant Financial’s bPaaS offers FIs product management, asset management, capital verification and full-link pressure tests on a live service basis.
The firm says it aims to combine these capabilities with Hoperun’s experience in the finance industry to develop the DCBP solution.